group buy idea

[wasamata]

I have an idea for a group buy if anyone's interested im just not keen in being the coordinator.
My idea is to buy the 100 TH/S (100,000 GH/S) of cloud mining from black arrow for $195,000
2000 shares @ 50 GH/s at 0.16 per share.
Each share therefore is 50 gh/s for $100  (currently 0.16 btc per share).
Runs for 4 months and is hosted by black arrow.
Everybody sends payment to the payer who makes 1 payment to black arrow.
The payer also pays out dividends weekly and gets a fee bonus of 0.125% of total profits per month
So every share pays like only $1 per month for the main guy to do the hard work.
Just testing the waters here still, not yet selling shares.

[Bismarckbkk]

I think blackarrow doesnt accept groupbuys.

[thomas_s]

Might be more beneficial to buy 100th/s of equipment over a contract.

[wasamata]

I know that but how would blackarrow know if payment was made by one person once, and all dividends sent back to that person (who then allocates each shareholders $)?

[yomamanodros]

I know that but how would blackarrow know if payment was made by one person once, and all dividends sent back to that person (who then allocates each shareholders $)?

Maybe because the official US reseller for Black Arrow and only one allowed to organize group buys for their merch happens to be very active on this forum.  You can try and organize behind their back, but you are taking a risk of taking a 10% hit to your investors money if they find out and issue you the 90% refund given to unlicensed group buys.  I don't know how you can convince anyone to take that risk when they can just go with the official group buy run by extremely respected members of this forum.

[zulover]

I know that but how would blackarrow know if payment was made by one person once, and all dividends sent back to that person (who then allocates each shareholders $)?

Maybe because the official US reseller for Black Arrow and only one allowed to organize group buys for their merch happens to be very active on this forum.  You can try and organize behind their back, but you are taking a risk of taking a 10% hit to your investors money if they find out and issue you the 90% refund given to unlicensed group buys.  I don't know how you can convince anyone to take that risk when they can just go with the official group buy run by extremely respected members of this forum.

what a pissy company, its all money whats their problem!

[wasamata]

I know that but how would blackarrow know if payment was made by one person once, and all dividends sent back to that person (who then allocates each shareholders $)?

Maybe because the official US reseller for Black Arrow and only one allowed to organize group buys for their merch happens to be very active on this forum.  You can try and organize behind their back, but you are taking a risk of taking a 10% hit to your investors money if they find out and issue you the 90% refund given to unlicensed group buys.  I don't know how you can convince anyone to take that risk when they can just go with the official group buy run by extremely respected members of this forum.

you are talking about the Prospero X-3 (2000Ghash/second)

i am talking about buying 100 th/s in minions cloud mining hosted by black arrow.

NO WHERE DOES IT SAY ON THEIR WEBSITE GROUP BUYING OF CLOUD MINING IS NOT ALLOWED.

[wasamata]

50 GH/s for 0.16 BTC for 4 months (about $2 per GH/s)
hosted by BA
starts in march
no electricity fees no set up no maintenance, no shipping cost or time.
Only 800 TH/s available cloud mining from BA.
I have written to BA to seek the authority to purchase 100 TH/s with one payment supplied by a group.

I have only 2 issues:

1. needs a central person who is extremely trustworthy as they will be processing about $785,000
in payments per month. So perhaps someone from this forum with a long track record of payouts.

2. I would like to know if BA will provide a buffer against any fall in BTC price (Perhaps an extension in time?)

[thomas_s]

50 GH/s for 0.16 BTC for 4 months (about $2 per GH/s)
hosted by BA
starts in march
no electricity fees no set up no maintenance, no shipping cost or time.
Only 800 TH/s available cloud mining from BA.
I have written to BA to seek the authority to purchase 100 TH/s with one payment supplied by a group.

I have only 2 issues:

1. needs a central person who is extremely trustworthy as they will be processing about $785,000
in payments per month. So perhaps someone from this forum with a long track record of payouts.

2. I would like to know if BA will provide a buffer against any fall in BTC price (Perhaps an extension in time?)

For #2 this is a big reason why BA doesn't like GB's, GB's tend to be more needy than an individual. When one person is unhappy and wants something done they don't go to the GBC, well they might at first but when he/she doesn't do what they want they then go to the manufacturer.

https://www.blackarrowsoftware.com/support/index.php?/Knowledgebase/Article/View/5/2/why-you-do-not-accept-group-buys

[wasamata]

Hi Thomas s, yes I do realize a number of high profile people on this forum have created a monopoly on group buys for black arrow mining equipment.

But what I am proposing is something different and that is not to try and resell BA mining equipment as a group buy. But rather, to create a group buy for BA's cloud mining offering.

According to their website, yes, group buying is clearly not allowed for BA equipment , but when you go to their cloud mining offering page there is no such rule noted, it is simply not there!

"We also believe that a random person from the internet that organizes a group buy is potentially unqualified to handle customer support and might also not be trustworthy to receive your money, forward it to us and distribute the merchandise to you."

Note the word 'merchandise' ? To me that would clearly mean they are referring to 'equipment' when outlining the no group buys rule. With cloud mining their is no merchandise so I question it's relevance. For this reason I will leave it up to Black arrow to decide whether they want to turn down $195k and if that's the case, so be it.

[wasamata]

Might be more beneficial to buy 100th/s of equipment over a contract.

hmmm not sure of that

lets see,

to get a comparable speed of 100 th/s we would need to come up with $333,136 to purchase 33 3th/s neptune miners

Or about 50 prospero X 3 miners at a cost of 300k. (But unfortunately their is a monopoly on those already).

Alternatively with 200k we can get the same speed with zero shipping cost, massive setup, massive electricity costs with the cloud mining deal
for 4 months. The trade off is their is no resell of equipment after the 4 months, but they will probably be obsolete by then anyway.

[MagicMan187]

Hmm, I'd consider the 1ths for around USD $2500 for 4 months, only problem is its in march!.. march is a long time away in bitcoin world, I'd wait until end of january (for the first batch of terra miners to comeout), see how much the difficulty jumps, then take a punt, It sounds like a great deal tho!

[wasamata]

That's true MM which is why the price drop insurance is nice on the BA equipment contracts. And if you've got 2.5k up your sleeve why not. But for those who only want to or can afford to put up a few hundred, a coop on the cloud mining is an idea. And for your 2.5k you will get an extra 250gh/s if you purchase via this potential proposal as compared to the stand alone 1th/s deal .

[thomas_s]

Might be more beneficial to buy 100th/s of equipment over a contract.

hmmm not sure of that

lets see,

to get a comparable speed of 100 th/s we would need to come up with $333,136 to purchase 33 3th/s neptune miners

Or about 50 prospero X 3 miners at a cost of 300k. (But unfortunately their is a monopoly on those already).

Alternatively with 200k we can get the same speed with zero shipping cost, massive setup, massive electricity costs with the cloud mining deal
for 4 months. The trade off is their is no resell of equipment after the 4 months, but they will probably be obsolete by then anyway.

hmm so we get 100th/s for 4 months or pay more and get 100th/s forever.

[wasamata]

Yep you can keep on running it forever if you don't believe in obsolescence and your electricity is free, but sadly that is not the case.

[thomas_s]

Yep you can keep on running it forever if you don't believe in obsolescence and your electricity is free, but sadly that is not the case.

Yep if you have cheap power, or have a hosting location that has cheap power and can run it.

Also to the post you made about "merchandise" this to me means product, and their product can be a mining contract.

[wasamata]

I suppose so if your running it off solar or a wind farm. And I would like to clarify it with the company before saying anything more. There's no harm in asking.

[thomas_s]

I suppose so if your running it off solar or a wind farm. And I would like to clarify it with the company before saying anything more. There's no harm in asking.

Their GB policy also applies to mining contracts, and yes I just confirmed this.